A macro model of the credit channel in a currency union member : the case of Benin /

A macro model of the credit channel in a currency union member : the case of Benin /

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Bibliographic Details
Author / Creator:Samake, Issouf.
Imprint:Washington, D.C. : International Monetary Fund, c2010.
Description:1 online resource (31 p.).
Language:English
Series:IMF working paper ; WP/10/191
IMF working paper ; WP/10/191.
Subject:
International Monetary Fund -- Benin.
Union économique et monétaire ouest africaine.
Credit -- Benin -- Econometric models.
Monetary policy -- Benin -- Econometric models.
Monetary unions -- Africa, French-speaking.
Format: E-Resource Book
URL for this record:http://pi.lib.uchicago.edu/1001/cat/bib/14154607
Hidden Bibliographic Details
ISBN:1462380964
9781462380961
1455204145
9781455204144
1282846620
9781282846623
9786612846625
6612846623
1455202258
9781455202256
Notes:"August 2010."
Includes bibliographical references (p. 24-26).
English.
Summary:This paper applies and extends a theoretical model built by Agénor and Montiel (2007) by exploring the effectiveness of government bonds and monetary policy in a small, open, credit-based economy with a fixed exchange rate. The model is applied to Benin, a member of a currency union, using a general equilibrium model with stochastic simulation. Model calibration replicates the historical pattern for 1996-2009. Policy experiments simulated an increase in government securities in Benin's regional market and a cut in the reserve requirement. Simulations produced mixed results. It appears that, am.

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